Commodities - Crude Oil Gains In Asia As API Estimates Support

24/09/2017

Some ministers from the Organization of the Petroleum Exporting Countries, Russia and other producers were meeting in Vienna to discuss their deal to cut supplies that runs to March.

Minister of state for Petroleum Resources, Emmanuel Kachikwu, who led Nigeria's delegation to the meeting, argued that though Nigeria's production recovery efforts have made some appreciable progress since October previous year, Nigeria is not yet out of the woods.

Jim Ritterbusch of Ritterbusch & Associates in Chicago said delaying a decision allows producers "to leave some arrows in their quiver to throw something bullish at the market at their November meeting" if necessary.

USA benchmark, November West Texas Intermediate crude US:CLV7 lost 5 cents, or 0.1%, to $50.51 a barrel on the New York Mercantile Exchange.

Fishing for reasons behind the change in sentiment, John Kilduff founding partner at Again Capital, suggested that crude has risen high enough to tempt countries to boost production above agreed levels, and that "compliance looks to be a bit of an issue" if prices rise much further than where they are now. Many analysts now expect them to extend the deal, possibly to the end of next year.

Oil is on track for only its third monthly gain for this year as supply cuts by OPEC and partners, such as Russian Federation, showed signs of whittling the worldwide crude glut.

U.S. crude inventories rose for a third straight week, by 4.6 million barrels in the week ending September 15, the Energy Information Administration said Wednesday.

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This, he said, was because he believed that the committee was doing a good job and needed to also clarify Nigeria's position on its crude oil production.

Russia's oil minister Alexander Novak and his Kuwaiti counterpart Issam Almarzooq this week said it was too early to talk about extending cuts.

Minister of Petroleum Bijan Zangeneh on Thursday said Iran had a major quarrel with non-OPEC producers over its push to win back the market share but it did not back off in the face of "many bad things which were said". Obviously we will not produce that.

Caps for both Libya and Nigeria were discussed but not finalized at Friday's meeting.

The President of the OPEC Conference, Khalid Al-Falih, who is also the Saudi Arabian Minister of Energy, Industry and Mineral Resources, also expressed his support for the JMMC, while reiterating his country's commitment to the success of the agreement.

Smith lamented the loss of opportunity for the younger players to go to South African shores and put their best foot forward. Openers David Warner and Hilton Cartwright both fell to Kumar for one, while Travis Head made a run-a-ball 39.

As part of an expansion, Taco Bell wants to start offering beer and frozen alcoholic drinks at some locations. The "urban in-line" stores will be created to feature open kitchens, digital menu boards and local artwork.

Some marquee features of the watch, like voice calls and Siri, failed to work reliably because of its shoddy cell connection. Reviews of the new watch were posted on Wednesday morning, and most were users were disappointed with the product.

A team spokesman told NFL Network's Steve Wyche before the game that his absence was not team or football related. When asked by reporters about Timmons's future with the team, Gase, said he had "nothing to add".

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He added that countries needed to trust each other when they say that they have destroyed all their nuclear weapons . Also Wednesday, the Security Council held a high-level meeting on its far-flung peacekeeping operations.

SC elections were not targeted by Russian hackers
No breach occurred, Minnesota Secretary of State Steve Simon said in a news release. "It's not a breach, it's not a penetration". The Department of Homeland Security confirmed it had notified the 21 states but declined to identify them Friday.

Kylie Jenner is pregnant, according to reports
The youngest Kardashian-Jenner sister is expecting a child with boyfriend Travis Scott , TMZ reported on Saturday. The event went down during September 8-10, and Kylie's current boyfriend, Travis Scott , was part of the line-up.

Spain's Guardia Civil raids Catalan government offices
Protests occurred outside the Catalan economy ministry in the heart of Barcelona . "Logically, the state has to react". Most opposition parties are also against the vote. "We will do all we can for democracy and freedom to prevail".

Chelsea Confirm Diego Costa's Move To Atlético Madrid
And Thibaut Courtois' tweet from September 1 suggests Chelsea's players were beginning to believe Costa could stay, too. Costa's last game for Chelsea was May's FA Cup final loss to Arsenal when he scored the last of his 59 goals .

Aaron Hernandez had 'severe' CTE, lawyer says
BU later confirmed the findings for Eyewitness News, saying Hernandez also had early brain atrophy. A spokesman for the Patriots did not immediately respond to requests for comment.

Amazon building smart glasses
Several other Glass researchers, engineers and designers also have moved to Amazon's labs, analysis of LinkedIn profiles shows. Priced at $149.99 (roughly Rs. 10,000), the new tablet promises a higher screen resolution, more storage , and battery life.

Mattoon High School issues statement on shooting
Students were being shuttled off the campus to Riddle Elementary School, where parents will be allowed to pick up their kids. Police in central IL say a teacher subdued a male student who shot and wounded another student in a high school cafeteria.

Lloyds Banking Group Plc (LYG) Facts and Figures
It is positive, as 39 investors sold Hays plc shares while 169 reduced holdings. 24 funds opened positions while 40 raised stakes. Stocks that were winners last year, last month, or even last week, may not be winners next week, next month, or next year.